GigCapital7 Corp. Modifies Public Unit Trading Announcement

Author: Hannah Lewis Updated: 09-10-2024 04:14 PM

GigCapital7 Corp. Adjusts Trading Date for Shares and Warrants

GigCapital7 Corp. (NASDAQ: GIGGU), a Cayman Islands exempted company, has recently made a significant announcement regarding the separate trading of its Class A ordinary shares and warrants. This decision comes after a communication mishap with Nasdaq Stock Market LLC, which has inadvertently affected the expected trading date for these securities.

Details of the Announcement

Initially, GigCapital7 intended for the holders of its public units to be able to trade the shares and warrants separately starting on September 10, 2024. However, due to the oversight, the new separate trading date is set for September 11, 2024. Each public unit contains one Class A ordinary share and one redeemable warrant, providing flexibility for investors.

Trading Symbols for the Securities

The public units will continue trading under the ticker symbol “GIGGU,” while the Class A ordinary shares and warrants are expected to be available under “GIG” and “GIGGW,” respectively. For those holding public units who wish to separate them into shares and warrants, it is recommended to have their brokers contact Continental Stock Transfer & Trust Company, the designated transfer agent of the company.

Company Background

As a blank check company, GigCapital7 Corp. was established with the goal of pursuing various business combinations, including mergers and acquisitions. The organization remains open to identifying prospective businesses across a broad range of industries and geographic areas, reinforcing its strategic intent to ensure robust growth.

Underwriters of the Offering

The public units were launched through an underwritten offering, notably managed by Craft Capital Management LLC and EF Hutton LLC. Their involvement as joint book-running managers highlights their significant role in supporting GigCapital7’s fundraising and market presence.

Regulatory Compliance

Following the SEC regulations, GigCapital7 has filed a final prospectus that outlines the terms of this offering. Interested parties can obtain copies by reaching out to the syndicate department of EF Hutton LLC or access the registration statement via the SEC’s website.

Legal Considerations

Importantly, this announcement serves as a clarification rather than an offer or solicitation for the purchase or sale of these securities. Investors are reminded to review their state's securities laws to ensure compliance prior to any transactions.

Frequently Asked Questions

What is the reason for the change in the trading date?

The change is due to an error communicated by Nasdaq regarding the separation of the units into shares and warrants.

What are the new trading symbols for the shares and warrants?

The Class A ordinary shares will trade under “GIG” and the warrants under “GIGGW.”

Who should investors contact for the separation process?

Investors should have their brokers reach out to Continental Stock Transfer & Trust Company to facilitate the separation of their units.

Who managed the public offering for GigCapital7?

Craft Capital Management LLC and EF Hutton LLC acted as joint book-running managers for the underwritten offering.

Is this announcement offering securities for sale?

No, this announcement clarifies trading details and does not constitute an offer to sell or a solicitation to buy securities.

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